A Look at Samsung’s History

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Traces its origin Samsung in South Korea, Lee Byung founded – Chull. He is a member of a wealthy family arrived in South Korea and is very ambitious and hardworking. It started its activities in 1938 as a fruit export trading company, vegetables and dried fish. His business went well until, in 1950, when the Korean War broke out. He moved to the relatively peaceful city of Suwon, where his business flourished again.

Lee started in production in 1953 after the war with a sugar factory. Like his other companies, now very profitable, and gave him financial security. He then in department stores establishing trade and then ventured in branched selling insurance and securities.

In 1969 he founded Samsung Electronics and has greatly benefited from the policies of President Park Chung then. The government has everyone who has been developing the most profitable companies in South Korea helped. Financial support was provided when needed by every society and protected local manufacturers by banning foreign manufacturers to eliminate competition. Some foreign firms were authorized to do business in the country if they do the technology transfer to South Korea.

This has allowed South Korean companies like Samsung, without relying on competition. One of the transferred technology is that electronic cards and chips production.

All these positive business support enabled Samsung produced its own communications products industry and a number of devices. During this period, the company has massive growth that it has acquired its own television station called experienced Tongyang Broadcasting Company.

Meanwhile, Samsung has also ventured into heavy industries such as shipbuilding and oil refining companies. Outside was produced by Samsung Electronics, Samsung shipbuilding, precision Samsung companies, the bulk devices, and Samsung Heavy Industries Company was founded.

growth over the next decade of the 80s all industries continue to Samsung and Lee had the taste of the move into new businesses. These include aerospace, biotechnology and nanotechnology. However, it was electronics and appliance manufacturing sector grew the most.

Between 1982 and 1987, production of chips and devices in New York, built in England and Portugal and has marked the entrance to the age of Samsung as a global conglomerate. In the meantime, Lee Byung – Chull, who ran several companies with more than fifty years ago was willing to cede leadership to his son Kun – Hee Lee, who took over as president.

Today, Samsung, which means three stars in the Korean language, already a global brand, is best known for its electronic products such as microprocessors, mobile phones and electronic devices and equipment. It is in the production of the world’s leading LCD and the second in terms of revenue for mobile phone production. It exceeded giants like Motorola, Siemens and Hewlett Packard. It is considered the world under the best of company. Not bad for a company that started with vegetables and dried fish.

Article Source: http://EzineArticles.com/?expert=Simon_Drew

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